Cincinnati Development Fund
Cincinnati Development Fund reported $20.0 million in revenue and $17.0 million in expenses for the fiscal year ending March 31, 2025. Of every $100 it spent, $91.75 went to program services, $7.69 to management and general costs and $0.56 to fundraising. Its largest source of revenue was contributions and grants: 61.8% of the total. Government grants made up 61.7%. The highest compensation it reported for one person was $318,516 (PRESIDENT & CEO). 9 people received more than $100,000 in reportable compensation. Revenue rose 203% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending March 31, 2025 · Form 990, Part IX, line 25 · total expenses $17MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending March 31, 2025 · Form 990, Part VIII · total revenue $20M- Contributions & grants (non-government)$0.03 $5,555
- Government grants$61.70 $12M
- Program service revenue$30.86 $6.2M
- Investment income$7.41 $1.5M
Other revenue was negative: −$14,632. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 91.7% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 7.7% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.6% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 61.8% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 61.7% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 30.9% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $318,516 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.87% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 9 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 26.5 | 10.0 |
| Independent voting board members Part VI 1a–1b | 15 of 15 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseCincinnati Development Fund (cdf) is a community deveopment financial institution (cdfi) established in 1988 to finance affordable housing development and community revitalization in the greater cincinnati area. Cdf's mission is to strengthen underserved neighborhoods and improve lives through innovative financing.over the past 37 years, local financial institutions, foundations, socially motivated investors, and local and federal governments have all contributed to cdf's sources of capital. These organizations invest in cdf because of our expertise in evaluating complex loan applications…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.00 hrs/week | $269,015 | $0 | $49,501 | $318,516 |
| GEN. COUNSEL/CHIEF STRATEGY OFFICER Officer, 40.00 hrs/week | $242,130 | $0 | $48,674 | $290,804 |
| CHEIF FINANCIAL OFFICER Officer, 40.00 hrs/week | $209,607 | $0 | $46,411 | $256,018 |
| EMPLOYEE Highest compensated employee, 40.00 hrs/week | $132,874 | $0 | $42,964 | $175,838 |
| SENIOR LOAN OFFICER Key employee, 40.00 hrs/week | $154,040 | $0 | $21,787 | $175,827 |
| CHIEF LENDING OFFICER Officer, 40.00 hrs/week | $134,402 | $0 | $16,700 | $151,102 |
| CREDIT RISK MANAGER Highest compensated employee, 40.00 hrs/week | $114,581 | $0 | $32,170 | $146,751 |
| SENIOR LOAN & PROGRAMS OFFICER Highest compensated employee, 40.00 hrs/week | $105,209 | $0 | $40,743 | $145,952 |
9 people received more than $100,000 in reportable compensation from Cincinnati Development Fund (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 15 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 517
- Volunteers Part I, line 620
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| NOVOGRADAC Audit and tax services | $284,500 |
Individuals listed as contractors are left out. 2 contractors were paid more than $100,000 in all.
Private foundation grants it received
1 private foundation reported grants to Cincinnati Development Fund totaling $5,000 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Cincinnati Development Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Cincinnati Development Fund, you can publish a response that is linked from this page.
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Of every $100 Cincinnati Development Fund spent in FY2025, $91.75 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- The Nashville Catalyst FundNashville, TN · revenue $20M · programs 49.3% · FY2024 (9 mo.)
- Rock Island Economic Growth CorporationRock Island, IL · revenue $20M · programs 94.7% · 2024
- 2LIFE CommunitiesBrighton, MA · revenue $20M · programs 59.5% · 2024
- House of RuthWashington, DC · revenue $20M · programs 89.5% · FY2025
- European American AssociationChicago, IL · revenue $20M · programs 93.5% · 2025
Questions people ask
How much of Cincinnati Development Fund's spending goes to programs?
In the fiscal year ending March 31, 2025, Cincinnati Development Fund reported that 91.7% of its $17.0 million in expenses went to program services, 7.7% to management and general and 0.6% to fundraising (Form 990, Part IX).
How much does Cincinnati Development Fund pay its top executive?
The largest total compensation Cincinnati Development Fund reported for one person in the fiscal year ending March 31, 2025 was $318,516, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Cincinnati Development Fund get its money?
Of $20.0 million in revenue in the fiscal year ending March 31, 2025, 61.8% came from contributions and grants (including 61.7% from government grants) and 30.9% from program service revenue (Form 990, Part VIII).
Is Cincinnati Development Fund a registered charity?
The IRS lists EIN 31-1256064 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending March 31, 2025, object 202630299349300028 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending March 31, 2024, object 202433209349304033 · read the filing
- FY2023: Form 990 for the fiscal year ending March 31, 2023, object 202333179349304663 · read the filing
- FY2022: Form 990 for the fiscal year ending March 31, 2022, object 202213509349300206 · read the filing
- FY2021: Form 990 for the fiscal year ending March 31, 2021, object 202112929349300001 · read the filing
- FY2020: Form 990 for the fiscal year ending March 31, 2020, object 202012629349300516 · read the filing
All filings for EIN 31-1256064: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.